Robert Kiyosaki Warns Fed Rate Hikes Will Destroy US Economy — Says Invest in ‘Real Money’ Naming Bitcoin – Economics Bitcoin News

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The famous author of the best-sell­ing book Rich Dad Poor Dad, Robert Kiyosa­ki, says the Fed­er­al Reserve will destroy the U.S. econ­o­my with inter­est rate hikes. He advis­es peo­ple to invest in “real mon­ey,” nam­ing bit­coin as an example.

Robert Kiyosaki on Fed Rate Hikes, U.S. Economy, Bitcoin

The author of Rich Dad Poor Dad, Robert Kiyosa­ki, is back with more warn­ings about the U.S. econ­o­my and advice on where investors should put their money.

Rich Dad Poor Dad is a 1997 book co-authored by Kiyosa­ki and Sharon Lechter. It has been on the New York Times Best Sell­er List for over six years. More than 32 mil­lion copies of the book have been sold in over 51 lan­guages across more than 109 countries.

On Fri­day, Kiyosa­ki tweet­ed that “savers are losers,” elaborating:

Today, U.S. debt in 100s of tril­lions. REAL INFLATION is 16% not 7%. Fed rais­ing inter­est rates will destroy U.S. econ­o­my. Savers will be biggest losers. Invest in REAL MONEY. Gold, sil­ver & bitcoin.

A num­ber of econ­o­mists, such as those at bro­ker­age firm Nomu­ra Secu­ri­ties, are pre­dict­ing a 100 bps increase in the Fed’s bench­mark short-term rate next week. Invest­ment strate­gist Ed Yardeni told CNBC Fri­day that he believes the Fed is “going to come around and con­clude that maybe just get it over with, maybe 100 basis points instead of 75 basis points. And then maybe one more hike after that.”

Some peo­ple, such as Tes­la CEO Elon Musk and Ark Invest CEO Cathie Wood, have warned that a major Fed rate hike risks defla­tion in the U.S. economy.

Kiyosa­ki has repeat­ed­ly warned that the biggest crash in world his­to­ry is com­ing. In April, he said all mar­kets are crash­ing. He has rec­om­mend­ed gold, sil­ver, and bit­coin before. How­ev­er, recent­ly he said gold is expen­sive, call­ing sil­ver the best invest­ment val­ue today.

Last week, he urged his mail­ing list sub­scribers to get into cryp­tocur­ren­cy now, ahead of the biggest crash in world history.

The famous author has been advis­ing investors to buy bit­coin for quite some time, stat­ing for sev­er­al months that he is wait­ing for the price of the cryp­to to bot­tom out before get­ting in. After reveal­ing that he was wait­ing for BTC to test $1,100, he said in July that he was in a cash posi­tion ready to buy the cryp­tocur­ren­cy. At the time of writ­ing, bit­coin is trad­ing at $20,103, down 6% over the past sev­en days and 14% over the last 30 days.

What do you think about the com­ments and advice by Rich Dad Poor Dad author Robert Kiyosa­ki? Let us know in the com­ments sec­tion below.

Kevin Helms 

A stu­dent of Aus­tri­an Eco­nom­ics, Kevin found Bit­coin in 2011 and has been an evan­ge­list ever since. His inter­ests lie in Bit­coin secu­ri­ty, open-source sys­tems, net­work effects and the inter­sec­tion between eco­nom­ics and cryptography.




Image Cred­its: Shut­ter­stock, Pix­abay, Wiki Commons

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